During the raid, CAB seized 46 vehicles, along with cash, valuable jewelry and electrical equipment worth a total of around €60,000.

In a statement gardaí said that at around 10am today searches began at 20 premises in the Dublin area.

Members of CAB and the Garda National Drugs and Organised Crime Bureau raided garages, car showrooms, and solicitor and accountancy offices as part of the searches.

Members of CAB and Gardai check vehicles from a motor company in Dublin. Picture: Damien Eagers

Gardaí confirmed that the investigation was targeting what they believed was "serious organised criminal activity in the Dublin Region and the suspected laundering of the proceeds of such criminality".

The statement continued: "The searches involve a number of private residences along with a number of commercial premises associated with the motor trade. This operation is ongoing and we have no further details at this stage."

"As result of this operation over 40 vehicles were seized along with significant amounts of cash (Euro and Sterling). In addition jewellery and a number of watches have been seized along with considerable amounts of documentation and electronic equipment.

"Investigations are ongoing."

CAB officers are investigating if the motor trade is being used to supply vehicles to criminal gangs and their associates and conceal the profits of drug dealing.

The raids are targeting a West Dublin based crime gang who are suspected of being involved in the drugs trade - mainly cocaine.

One of the garages searched was in Dublin's North inner city while a second facility was searched in West Dublin.

No arrests were made.

Sources said the gang has strong connections to the Kinahan crime cartel.